BIGGER NEWS FROM AMERITRADE.WOW.READ BOLD.An update on the banks providing FDIC insurance to your cash
Dear Valued Client,
We have important information about some changes to the TD Ameritrade FDIC Insured Deposit Account (or "IDA"), which is currently selected as the cash sweep option on your account ending in 3209.1 As part of the continued Federal Deposit Insurance Corporation (FDIC) protection you enjoy today, we are adding one or more banks to the destinations where your cash balances are swept.
Currently, TD Bank, N.A. and TD Bank USA, N.A., provide the FDIC insurance coverage to your IDA. Under this arrangement, your cash balances are eligible for FDIC insurance up to $250,000 per depositor per bank. Between the two banks, individuals are eligible for up to $500,000 in FDIC insurance coverage and joint accounts are eligible for up to $1 million.
In addition to TD Bank, N.A. and TD Bank USA, N.A., one or more banks ("Program Banks") will be added. Good news: there will be no change to the FDIC insurance protection on your account, and you don't have to do anything.
By utilizing multiple banks, this sweep program has been set up to continue providing you with eligibility for maximum FDIC insurance coverage of up to $500,000 for individuals and up to $1 million for joint accounts. You can view the list of Program Banks on our website.2
We encourage you to review the updated terms in the Client Agreement, as well as the Summary of Cash Balance Programs, to learn more about the IDA. Both are available when you log in to your account and go to the Forms & Agreements page.
You can obtain publicly available financial information concerning each Program Bank at the National Information Center of the Federal Financial Institutions Examination Council, or by contacting the Federal Deposit Insurance Corporation (FDIC) Public Information Center. You can reach the Public Information Center by mail at L. William Seidman Center, Virginia Square, 3501 North Fairfax Drive, Arlington, VA 22226 or by phone at 703-562-2200.
To see what other cash sweep options are available to you, log in to your account and go to My Account > Online Cash Services > Cash Sweep Vehicle.
We're Here for You
If you have any questions, or if we can help you in any way, please let us know. Just log in to your account and go to Client Services > Message Center to write us, or call us at 800-669-3900. We're available 24 hours a day, seven days a week.
